Do THIS to Make $10,000 as a Student
Absolutely everyone wants to know how to make $10,000 a month as a Student. The only issue is there's a lot of BS out there, there's a lot of misinformation, and there's a lot of people making it seem a lot easier than it actually is.
So in today's article, I'm going to break down the three main components you need to focus on in order to make $10,000 a month as a Student.
Now, in this article, I'm going to give you the three main components, but after you finish reading this article, I'm going to leave a link in the below the article, and that link will take you to my most popular this year on YouTube. That article breaks down the 7-8 most popular online business models and will help you break down and figure out what will work the best for you this year.
How To Make $10,000 As A Student
The Right Vehicle
Now, the first thing you need in order to hit $10,000 a month as a student is the right vehicle. And let me tell you what I mean. You see, the thing is, you need a means. You need an opportunity that is big enough but not too risky. You can actually achieve $10,000 a month as a student.
Now, I will say that $10,000 a month, and I'm really not trying to be insensitive here. I understand that I was a fringe case, I hit $10,000 a month when I was 17 years old, but I'm going to talk about that a little later on in this article and how I actually got to that place. I hit $10,000 a month when I was 17 years old, and by the end of that year, before I turned 18, I was hitting 30 to $40,000 a month. So I'm speaking here from experience, you need a vehicle, a way that you can make that sort of money, but a way in which you're not going to risk losing all of the money that you do have.
So the first thing that I will tell you is trading is out the window. I'm going to be very honest with you, there's a lot of traders out there that are trying to sell you BS because when with their little affiliate link and you get your $10 free, when you lose money, that's actually where they make money. They don't make money on the little $10 or $20 signup that they get when you join, they make money when you lose, they're literally incentivized for you to lose.
And listen, that's just the honest truth of it. Even if you have $1,000 for you to take $1,000 and turn that into 10 or $20,000 in a single year is actually very difficult. The amount of successful trades, the average of all those successful trades is very, very difficult. Whereas for you to take $1,000 and invest very lean online business, I mean, by the end of the year, you're talking tens of thousands of dollars. I don't think realistically you're going to hit hundreds of thousands of dollars in your first year. It happens sometimes, but it's very unrealistic. But definitely by the end of the year, you should be making more than your average salary if you were just working a traditional nine to five. And the best part is you should be able to do it remotely.
Free Cashflow
So in order to make money, you need something that spits out free cash flow. And what I mean by that is profit that you can actually use, because here's the other thing I'm gonna tell you. People always look at net worth, They go, oh, he has a hundred million dol net worth, but his entire net worth is in his company. And he can't take out money out of his company because he may have investors or this or that or you have certain people.
For example, a lot of people in the property game where they have a lot of money, their portfolio is worth a lot, but they're not very cash rich, they don't actually have a lot of cash laying around. They're wealthy, but their money is tied up in places, and that's not the place that you want to be at when you're first starting a business. So a lot of businesses, like for example, building a proper E Commerce brand.
And by the way, when I say proper E Commerce brand, once again, I'm speaking from experience, I've had an eyewear company for a few years. And the thing is the packaging, everything is beautiful, we've got this beautiful black velvet finish on the inside. So this business is, it's my smallest business, it makes around 1.2 to $1.5 million a year. And that sounds great until you realize that we have 50% margins, so I'm only keeping 50% of that money. And it's even worse when you realize that any of my profit that I make, I can't keep, I have to roll that into new stock because especially a product like this is actually very difficult to make.
So for me to put in an order now of another 5,000 to 10,000 units, I may only get that in 3, 4, 5 months, depending on the time of the year. So even though someone would look at him go, that's a $1.5 million a year business at 50% margins. You never actually get to keep that profit because you always have to reinvest into the business. And that is very different to for example, a service based business.
So if you're offering a service to clients, whether that be building their marketing funnels, whether that be doing their short form content, you know, little short form TikToks and reels and doing lots of those and creating many accounts for them and distributing it all over the Internet all the way to doing, for example, their Google Ads and focus specifically on Google Ads for e commerce brands as an example. Listen, whatever the service is, it needs to have one of two things. High perceived value to the client, And what I mean by that is it needs to be something that they're like, oh wow, this is actually worth it. I'm more than happy as a business to pay this external consultant or service provider $1,000 a month, $3,000 a month, you name it. Or it needs to have high leverage, And what I mean by that is, listen, you can still be an online personal trainer, but if you want to make $10,000 a month, you need to hire people below you who work as coaches. And that way you're an online personal train and you do some of the coaching, but then you may have coaches underneath you, you know, personal trainers that work at local gyms and you just pay them a small fee and they do the rest of coaching.
So that's leverage or let's say you have an agency that creates YouTube thumbnails for people. Thumbnails on YouTube are such an important aspect to video, but people don't pay crazy amounts for thumbnails. But if you can hire someone in Brazil, Romania, India for $1,000 a month, which is a great salary there, especially remotely, and their work is able to produce 3, 4, $5,000 a month in terms of business for your thumbnail agency or for your thumbnail performance marketing business, whatever you want to call yourself. The point is that that is leverage, that's you being able to take something off your plate.
So either you need to offer a service or guidance consulting on something that brings so much value to businesses that you can actually make 10k a month just as a solopreneur, or more realistically, you'll be able to do it solo until 3, 4, $5,000 a month and then you need to start using leverage and you need to maybe make a little less on the margin, but make far more money at the end of the month because you have people who can deliver these things for you. So just remember with the business models that I'm talking about, you're not going to make $100 million, I'm going to be very honest with you, but the other thing that you're not going to do is you're not going to go broke, and that's the unfortunate thing with a lot of these other businesses.
For example, I'll give you my main business, my software company (AgenciFlow), that is a business that gets into multiple nine figures and that's all cool and fine and well, but you need to realize there's a big chunk of money needed that I had to forward to start the company and that's number one. But then I had the massive competitive advantage of a massive audience. And even me, it took me four years to be like, listen, I'm not ready, I don't feel like I have the skillset, the understanding and the sort of influence to start a business worth hundreds of millions of dollars.
So what did I do? I started a service based business back in 2016 and I ran that business for six years. So just remember the business model that gets you to $10,000 a month. And by the way, I actually managed to get my service based business up to $150,000 a month in profit. Can never get further than that, I'm sure someone else has been able to do it, but for the way that I wanted to run it, which was lean, remote, no office, I was pretty happy with that. So as I was saying, the business that gets you to 10k a month will not necessarily get you to $100 million. But that's okay, baby steps here, choose the right vehicle for the right career stage you're at.
Stretch Out The Timeline
And here is the very unfortunate thing about social media. You see, 20 years ago, if you were, let's say 21 years old and you were making $4,000 a month without having to go to 9 to 5, you would think that you are a king, you would think that you're a baller, you would think that you are killing it. And we live in such a up world where now you look online and you think, I'm 21 years old and I don't work a traditional 9-5, and I have location freedom and I have time freedom, I can wake up whenever I want. But I'm only making $4,000 a month, I'm not making $10,000 a month, and you feel depressed because of it.
And by the way, I even know that I have a part to play in that because what I've been able to do in my career and my age is not normal. But that's why I always like to tell people that, listen, what I've done, very unrealistic, and a third of it was incredible dedication and hard work, a third of it was timing, creating the right businesses at the right time. And the last third of it was luck or God or whatever you want to call it, whether you're a person of faith or not, up to you.
So I like to make that very clear to people, and then I also like to point people back to 2015 when I was broke and I was starting a business to take care of me and my single mom. And I was going to the gym every single day and recording it, I was reading a book a week and putting out on YouTube. So you need to understand, I started my first business, my first venture, and at that point, you know, it was really more of a side hustle. But still, I was making a few thousand dollars a month back in 2014. And granted, I only did that for a few months and then that business model stopped working and then I moved to the next thing. But really, the point is, I was putting in work between 2014 to 2017 and it took me three years to hit my first $10,000 a month, and that's totally fine.
That's actually pretty cool, If you work as hard as I did, do I think it will take you three years? No, because it's so crazy, the Internet moves so quickly, the back in 2014, I didn't have the opportunities that you can have today. Even things like getting payment processors were so difficult back then. It was such a struggle to even just try to do business being a 14 year old, whereas these days you have so many more options. So do I think it will take you three years? If you really dedicate, pick the right vehicle, follow all of the advice that I give you in this article.
Do I think that it will take you three years? Honestly no. But even if it does, who cares? I really cannot stress how vital it is that you set your expectations to making $10,000 a month. Set your expectation not in months, but in years. Don't think how many months it's going to take me, think how many years.
Now here's the thing, if you achieve it quicker, bless you, that's amazing, I'm over the moon for you. And listen, try to get rich faster, of course, do it. Wealth needs to be built slowly and wealth is built over time. But try to get rich, try to make as much money as you can, ethically and morally, that is. But at the end of the day, I'm trying to set these expectations for you.
Here's the thing, many of you guys will try and let's say you're giving your absolute best for six months. And if your expectations are, oh, within six months, you know, I was expecting to be doing $7000 already and you're only doing $1200 from your online business. Do you're making $1200 online? Do you realize how amazing that is? And here's the beautiful thing, when it rains, it pours. And by the way, that also applies negatively and positively in life. And the point here is, this is usually how business works.
And this is what I can tell you now, coming up to 10 years since I started my first side hustle and getting to the point where I have a conglomerate of businesses and over 150 employees. The way it works is usually something like this, it goes like this then you flatline for the longest time and right as you're thinking, like, am I just going to be stuck here forever? it shoots up and then you flatline it shoots up. And by the way, within these points, you have little down moments and stuff like that. But the point is there's a lot of flatlining. There's a lot of you getting to a new level in life and then really cementing it, really setting that foundation. So I wanted to make this clear and I wanted to make this one of the other components just so that way your expectations are clear, they're in the right place, and so you don't quit before you even properly try.
That's Really Gonna Be The Tough Mile
Now the last component to making $10,000 a month, and it's kind of like if you're running a marathon, I would much rather tell people that, hey, on mile 18, that's really going to be the tough mile. That's really where things are going to get rough. Because at least when you face something, if you have context beforehand, it makes it a little easier and you feel less alone. So I want to give you guys context not only for how to get to 10k, but what happens once you hit 10K. You see the third component is not just getting there, it's staying there, you see? Making $10,000 a month.
And once again, I'm really trying my best not to be insensitive here. I get it l have done it, I've witnessed thousands of people do it even in my close proximity. So l know that for me it may seem easier than for you guys for some of you guys you may be looking at this and going, okay well it's easy for you to say. But trust me you you'll understand and due time making $10K a month is the easy part continuing. To make $10K a month that's where it gets difficult and also so keeping that money and then multiplying it growing your wealth over time and rather than acting like some new money idiots learn from old money even in my situation even thought I am new money, I knew from day one that I would make it but I always promised myself that I would study old money to understand how to actually keep it and multiply my wealth.
So the third component of making $10K a month is understanding that once you get there, you're not done that is actually simply just the beginning now it is time to cement your place have that as a baseline and the crazy thing is we all have financial baselines. You know for me I remember when my baselibe was $11K a month and this around 6 years ago, I was still in school at this point. And that doesn't mean what you're trying to make what you're aiming to make it just means if you go below that point it will keep you up you're like this it doesn't match your identity, you're like this isn't me. And I remember when it went from $1K and then it went to $5K and then went to $10K. And listen since then I've been very blessed to have an amazing career and it's gone up to $100K a month and now a million dollars a month and you know god willing at some point it'll be few million dollars a month and that'll be my absolute baseline I can't even conceive a reality where it's less than that.
So the point l'm trying to make is once you get to $10K a month it's more than about making it an identity it's more than about making that as your baseline. As l said your financial identify is not what you're aiming for it's where anything below that and you would just fell off, you would be like this isn't me I'm better than this. So number one is get to $10K a month and once you get there make it your financial identify and once that is solid and that's locked in then you can keep working your way up the ranks. So l hope this has been useful to you and as always I'm watching you from afar and I'm rooting for you.
